Henry Wells
Express businessman who co-founded American Express and Wells Fargo.
Henry Wells (December 12, 1805 – December 10, 1878) was an American businessman who played a key role in the creation of both American Express and Wells Fargo. Starting out as a freight agent, he later moved into the express business. His companies undercut the United States Post Office by transporting mail for less than the government’s rates. He also founded Wells College in Aurora, New York.
Wells was born in Thetford, Vermont, to a Presbyterian minister and his wife. The family moved to central New York during the Yankee migration from New England. He was a seventh-generation American, descended from Thomas Welles, an English immigrant who arrived in Massachusetts in 1635 and served as Connecticut’s governor, deputy governor, treasurer, and secretary—the only person to hold all four offices. As a boy, Wells worked on a farm and attended school in Fayette. In 1822, he was apprenticed to a tannery and shoemaking firm in Palmyra, New York. As an adult, he was sometimes called Henry “Stuttering” Wells and was known as a flamboyant character.
In 1836, Wells became a freight agent on the Erie Canal and soon started his own business. He later worked for Harnden’s Express in Albany. When he suggested expanding service west of Buffalo, William F. Harnden encouraged him to go independent. In 1841, he co-founded Pomeroy & Company with George E. Pomeroy and Crawford Livingston. The firm competed with the U.S. Post Office by carrying mail for less, and public support—inspired by England’s penny post—forced the government to cut its rates in 1845 and 1851. In 1844, the company became Livingston, Wells & Company, adding William Fargo and Thaddeus Pomeroy. On April 1, 1845, Wells, Fargo, and Daniel Dunning launched Wells & Company’s Western Express, the first such company west of Buffalo, serving Detroit, Chicago, St. Louis, and Cincinnati. Wells sold his interest in 1846, and the firm became Livingston, Fargo & Company. He then moved to New York City to focus on transatlantic express for Livingston, Wells & Company. After Crawford Livingston died in 1847, the firm became Wells & Company, though the Livingston, Wells name continued in Europe.
In early 1850, Wells formed Wells, Butterfield & Company with John Butterfield. That same year, American Express was created by merging Wells & Company, Livingston, Fargo & Company, and Wells, Butterfield & Company.
Quick Facts
- Birth Date
- 1805-12-12
- Birth Place
- Thetford, Vermont U.S.
- Death Date
- 1878-12-10
- Resting Place
- Oak Glen Cemetery / Aurora, New York, U.S.
- Death Place
- Glasgow, Scotland
- Occupation
- Expressman, banker
- Known For
- Co-founder of American Express Company, Wells Fargo, and Wells College
- Parents
- Shipley Wells / Dorothea Randall
- Children
- 4
Facts from the source article.
Lore & Background
Henry Wells was born in 1805 in Thetford, Vermont, the son of a Presbyterian minister. He worked on a farm and attended school in Fayette, and in 1822 was apprenticed to tanners and shoemakers at Palmyra, New York. In 1836, he became a freight agent on the Erie Canal and soon started his own business. He later worked for Harnden's Express in Albany, and when he suggested expanding service west of Buffalo, William F. Harnden urged him to go into business on his own account. In 1841, the firm of Pomeroy & Company was formed, competing with the U.S. Post Office by carrying mail at less than the government rate, which helped force rate reductions in 1845 and 1851.
In 1850, Wells formed Wells, Butterfield & Company, and that same year the American Express Company was formed as a consolidation of Wells & Company; Livingston, Fargo & Company; and Wells, Butterfield & Company. Wells served as president of American Express from 1850 to 1868. When other directors objected to extending service to California, Wells organized Wells, Fargo & Company on March 18, 1852. He also served as president of the New Granada Canal & Steam Navigation Company in 1855, and in Aurora he was president of the First National Bank of Aurora and first president of the Cayuga Lake Railroad.
Wells retired from the board of Wells Fargo in 1867 and as president of American Express in 1868. That same year, he founded Wells College in Aurora with an endowment to make it one of the first women's colleges in the United States. One of his last ventures was the Arizona & New Mexico Express Company, of which he was president in 1876. He died in Glasgow, Scotland, on December 10, 1878, and was buried in Aurora.
Reader's Guide
Henry Wells was a central figure in the development of the express business in the United States, co-founding two major companies—American Express and Wells Fargo—that became enduring institutions. His early ventures, including Pomeroy & Company and the Western Express, pioneered private mail delivery at rates below those of the U.S. Post Office, contributing to postal reform. Wells' leadership of American Express from 1850 to 1868 and his role in organizing Wells Fargo in 1852 extended express and banking services to the West Coast. Beyond business, his founding of Wells College in 1868 as one of the first women's colleges in the United States reflects a commitment to higher education. His career illustrates the intersection of private enterprise, transportation, and social philanthropy in 19th-century America.
Did You Know?
- Henry Wells was known as 'Stuttering' Wells and described as a flamboyant character.
- His ancestor Thomas Welles was the only man in Connecticut's history to hold all four top offices: governor, deputy governor, treasurer, and secretary.
- His body was transported back to the United States aboard the steam-ship Ethiopia after his death in Glasgow.
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